Daytona Street Capital LLC Acquires New Stake in Freedom Holding Corp. $FRHC

Daytona Street Capital LLC acquired a new stake in Freedom Holding Corp. (NASDAQ:FRHC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $2,434,000. Freedom accounts for 1.6% of Daytona Street Capital LLC’s investment portfolio, making the stock its 20th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Highland Capital Management LLC bought a new stake in Freedom during the third quarter valued at $1,609,000. JPMorgan Chase & Co. grew its holdings in Freedom by 188.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company’s stock worth $13,094,000 after acquiring an additional 49,712 shares during the period. New York State Common Retirement Fund acquired a new stake in Freedom during the 2nd quarter worth about $1,095,000. Rhumbline Advisers acquired a new stake in Freedom during the 2nd quarter worth about $2,483,000. Finally, Walleye Capital LLC acquired a new stake in Freedom during the 2nd quarter worth about $819,000. 1.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on FRHC. Loop Capital set a $138.00 price target on Freedom in a report on Thursday, February 26th. Wall Street Zen upgraded Freedom from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Freedom in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell” and a consensus price target of $138.00.

Freedom Price Performance

FRHC stock opened at $153.75 on Tuesday. The stock has a market capitalization of $9.41 billion, a PE ratio of 7,687.50 and a beta of 0.73. The company’s 50-day moving average is $129.53 and its 200-day moving average is $138.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.15 and a quick ratio of 1.15. Freedom Holding Corp. has a 1 year low of $107.97 and a 1 year high of $194.01.

Freedom (NASDAQ:FRHC) last released its quarterly earnings data on Monday, February 9th. The company reported $1.25 earnings per share (EPS) for the quarter. The company had revenue of $500.71 million for the quarter. Freedom had a net margin of 0.13% and a return on equity of 0.21%.

Freedom Company Profile

Freedom Holding Corp (NASDAQ: FRHC) is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm’s product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.